Hi im currently setting up a DMP, just been thinking things over and was wondering if there is many problems going from a DMP to a IVA?
circumstances for the DMP are that im seperating from husband and untill im left and settled I cannot go with a IVA
Just wondered if there is any usual problems transferring from one to the other?
thanks
No there shouldnt be any problems and while you are in the DMP, you are already showing your creditors that you are trying to repay your debts. This should be looked upon favourably when the time comes for an IVA creditors meeting.
Not at all - it is very sensible to do the DMP whilst things are uncertain for you, but once you get settled into a single mum routine and you know where you are with your finances (and child maintenance claim) then it may be sensible for you to change to an IVA.
That's nothing to worry about. I swapped from a DMP to an IVA with no problems at all.
Your switch will be for a good reason (although I didn't have to give one other than the fact we had been told we couldn't have an IVA), and the creditors just need to know that they will be getting a good return.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You can swap, a DMP is only an informal arrangement.
I believe you are doing it through Melanie? I recommend that you stick with her for your IVA as well. You know where you are then.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
no i got switched over to vincent bond so no im not with melanie although i did get in touch with them to sort it they recommended these for my DMP, my first correspondence was with andy davie with vincent bond
There's nothing to stop you going back to Melanie for an IVA if you wanted to do that.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
please dont worry about that now, you have enough to cope with, leave it until youre well and trully settled in your new life. Once the DMP is up and running for a few months you can take the breather (or the nervous breakdown) you deserve and need.
